Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.Trading technique:# 1 Buy channeling stock on support and sell on resistance.# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.Tips: # 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.Estimated Target: the main trend support/resistance line.

It was the negative week for the AbbVie (ABBV). During the week, the ABBV dropped -3.87 points, or -3.36%, and closed at 111.30 on Friday, February 09, 2018. Weekly volume was 75% above average. Long-term trend: [See ABBV long-term trend chart]A long-term uptrend had started on October 22, 2015 at 45.45 and reached 125.86 on January 26, 2018. ABBV gained -80.41 points, or -176.92%, in 118 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (67.57) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See ABBV medium-term trend chart]A medium-term uptrend had started on October 28, 2016 at 55.06 and reached 125.86 on January 26, 2018. ABBV gained -70.80 points, or -128.59%, in 65 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (76.93) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend. Weekly Technical Indicators: [See ABBV weekly technical indicators chart]Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help. The weekly MACD line is above its signal line since August 25, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See ABBV short-term trend chart]A short-term downtrend had started on January 26, 2018 at 125.86 and reached 101.00 on February 6, 2018. ABBV lost 24.86 points, or 19.75%, in 11 days. The price is now at the 41.43% retracement level. Daily Technical Indicators: [See ABBV daily technical indicators chart]Daily technical indicators are neutral. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal. The distance between the Bollinger Bands is 166.15% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band. Candlestick pattern: [See ABBV candlestick chart pattern]On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.